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Familiar Japanese Yen volatility theme leads to the best month for the second half of 2013

Monex Group has announced in a press release a substantial rebound in volume metrics, cementing the yen volatility story that we brought up with the release of GMO Click’s numbers yesterday. The company reports volumes rose by 27% over the month of November to ¥140 billion daily (or about $31 billion for the month) which resulted in the best month for the company in the second half of 2013. As the Japanese Yen lost value and dovish central bank comments resurfaced, traders reactivated.

A back to back monthly increase is great news for the company to conclude what was a stellar year in terms of volumes growth. While we still remain far from numbers observed at the start of 2013 these figures show signs of reinvigoration of risk appetite by Japanese retail forex traders.

By now the smart crowd has realized that all the talk by monetary authorities of inflation creeping back into the world’s third largest economy is based on the assumption of a continuously declining value of the domestic currency. Shares of Monex Group are up nicely by 3.7% this session closing in on last year’s highs marked just after the BOJ announced its unprecedented monetary stimulus measures.

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